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Shiprocket files updated DRHP to raise Rs 1,100 Cr via fresh issue

EntrackrEntrackr · 4h ago
Shiprocket files updated DRHP to raise Rs 1,100 Cr via fresh issue
Medial

Logistics and supply chain platform Shiprocket has filed an updated draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) for its Rs 2,342.35 crore initial public offering (IPO). The IPO includes a fresh issue of equity shares worth Rs 1,100 crore, while existing shareholders and co-founders will offload shares worth Rs 1,242.35 crore through an offer for sale (OFS). According to the UDRHP, the OFS will be led by Lightrock, selling shares worth Rs 258.49 crore. Arvind Ltd and Tribe Capital will offload shares worth Rs 161 crore and Rs 120 crore, respectively. March Capital and Bertelsmann India Investments will also participate in the OFS, cashing out Rs 95 crore and Rs 85.43 crore, respectively. Other participants include 500 startups, Agility Global, AFOS Group, Moore Strategic Ventures, and Sameer Mehta, among others. The co-founders, Gautam Kapoor and Saahil Goel, will also participate in the OFS, offloading shares worth Rs 144 crore each. Vishesh Khurana, another co-founder, will sell shares worth Rs 36.93 crore. Shiprocket plans to use Rs 505 crore from the IPO proceeds to scale its platforms, with Rs 294 crore allocated for marketing and Rs 211 crore to strengthen its technology infrastructure. Additionally, Rs 210 crore will be used for debt repayment, with the remaining proceeds for inorganic growth and general corporate purposes. As of the UDRHP filing, Bertelsmann India Investments is the company's largest shareholder with a 21.32% stake, followed by Tribe Capital with 14.14%. Eternal (formerly Zomato) and Temasek hold 6.85% and 5.29% stakes, respectively. Co-founders Saahil Goel and Gautam Kapoor each own 4.84%, and the ESOP pool accounts for 8.48% of the shareholding. Financially, the Gurugram-based company reported a 15% YoY rise in operating revenue to Rs 942.6 crore in the first six months of FY26. It also narrowed losses by nearly 10% to Rs 38.3 crore. In FY25, Shiprocket's revenue grew to Rs 1,632 crore, with the company becoming EBITDA cash positive at Rs 7 crore, compared to an EBITDA burn of Rs 128 crore in FY24.

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Exclusive: Shiprocket to raise Rs 220 Cr in pre-IPO placement

EntrackrEntrackr · 3m ago
Exclusive: Shiprocket to raise Rs 220 Cr in pre-IPO placement
Medial

Shiprocket is set to raise Rs 220 crore in a pre-IPO placement as part of its upcoming public issue. The logistics and supply chain platform plans to mop up Rs 1,100 crore through a fresh issue, according to regulatory filings accessed by Entrackr. The Temasek-backed company is reportedly targeting an overall issue size of Rs 2,000–2,400 crore, which will also include an offer for sale (OFS). Its board has cleared a special resolution to issue equity shares worth up to Rs 1,100 crore, including the pre-IPO component. The move comes soon after Shiprocket’s confidential DRHP filing with SEBI and the stock exchanges. Media reports suggest the company has roped in Axis Capital, Kotak Mahindra, JM Financial, and BofA Securities as lead bankers for the issue. Founded by Saahil Goel, Gautam Kapoor, and Vishesh Khurana, Shiprocket is a logistics and supply chain platform that enables businesses to streamline shipping through courier integration, real-time tracking, and automated solutions. Shiprocket has raised over $320 million to date and is valued at $1.21 billion. According to the startup data intelligence platform TheKredible, Bertelsmann Nederland B.V. is the largest external stakeholder, followed by Tribe. Zomato, Temasek, LightRock, and PayPal are other notable investors in Shiprocket. During the fiscal year ending March 2024, the company recorded a 21% year-on-year increase in revenue, reaching Rs 1,316 crore, while its losses stood at Rs 595 crore for the same period. It competes with Unicommerce, which recently acquired Shipway, along with other players such as Shipyar, among others.

Capillary Technologies files DRHP; to raise Rs 430 Cr via fresh issue

EntrackrEntrackr · 5m ago
Capillary Technologies files DRHP; to raise Rs 430 Cr via fresh issue
Medial

Capillary Technologies files DRHP; to raise Rs 430 Cr via fresh issue Loyalty management firm Capillary Technologies has filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) for an initial public offering (IPO) on Thursday. The IPO includes a fresh issue of equity shares worth Rs 430 crore (approximately $50 million) and an offer for sale (OFS) of 1.83 crore equity shares, according to the DRHP. Earlier this month, the Bengaluru-based firm received the board nod for its planned Rs 2,250 crore or $265 million Initial Public Offering. Capillary Technologies International Pte. Ltd will offload approximately 77.6%, or 1.43 crore shares, of the total OFS. Other participants in the OFS include Ronal Holdings, Trudy Holdings, Filter Capital, and individual shareholders such as Sripathi Venkata Ramana Reddy, Harminder Sahni, Adarsh Reddy, Sudhakar Reddy, Sripathi Damodar Reddy, and Manjunath Nanjaiah. As per the DRHP, Capillary Technologies International Pte Ltd, the promoter, holds a 65.47% stake in the company. Ronal Holdings and AVP Fund (Avataar Ventures) follow with holdings of 7.53% and 5.51%. Trudy Holdings and Filter Capital India own 4.49% and 3.66%, respectively. Capillary Technologies plans to list its shares on both the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE). The IPO will be managed by JM Financial, IIFL Capital, and Nomura Financial Advisory, who are acting as the book-running lead managers. According to the DRHP, the net proceeds from the fresh issue will be utilized for cloud infrastructure costs, research, design, development, and other general corporate purposes. In the previous fiscal year ended March 2025, the company recorded a 14% year-on-year growth in its revenue to Rs 598 crore, up from Rs 525 crore in FY24. It also posted a net profit of Rs 14.1 crore in FY25, compared to a loss of Rs 68.3 crore in FY24.

Ampere's parent Greaves Electric files DRHP for Rs 1,000 Cr IPO

EntrackrEntrackr · 11m ago
Ampere's parent Greaves Electric files DRHP for Rs 1,000 Cr IPO
Medial

Greaves Electric, the parent of EV maker Ampere, has filed its draft red herring prospectus (DRHP) with the Security Exchange Board of India (SEBI) for an initial public offering (IPO) on Monday. The firm has proposed to raise funds through a fresh issue of equity shares aggregating up to Rs 1,000 crore (approximately $119 million) and an offer for sale (OFS) of up to 18.94 crore equity shares, according to the DRHP. Greaves Cotton Limited (the prompter shareholder) will divest 8.5% of its holding in the offer for sale (OFS) while Abdul Latif Jameel Green Mobility will offload 39.54% of its share from Ampere. The price band and minimum lot size will be decided in consultation with the book-running lead managers shortly through the book-building process. Motilal Oswal, IIFL Capital, and JM Financial will be Ampere's lead book-running managers. According to the DRHP, before the offer for sale (OFS), Greaves Cotton Limited (promoter) held 62.48% of the stake while Abdul Latif Jameel Green Mobility Solutions DMCC commands 34.44% in Ampere. For the quarter ending in September 2024, Ampere reported Rs 302 crore in revenue from operations with a loss of Rs 107 crore. In the previous fiscal year (FY24), Ampere experienced a 46% decline in revenue in FY24, with scooter sales plummeting by nearly 60%. Moreover, the company's losses widened more than 10X to Rs 215 crore, driven by the significant decline in scale. In August, Ola Electric, an EV manufacturer, filed its IPO and raised Rs 6,145 crore through a fresh issue. The company offered shares in a price band of Rs 72-76, which are now trading at Rs 94 (as of 11:30 AM), giving it a market capitalization of Rs 41,488 crore ($4.93 billion). Meanwhile, another EV maker, Ather, has filed its DRHP for a fresh issue of Rs 3,100 crore and is expected to launch its IPO soon.

Infra.Market files confidential DRHP with SEBI for Rs 5,000 Cr IPO

EntrackrEntrackr · 2m ago
Infra.Market files confidential DRHP with SEBI for Rs 5,000 Cr IPO
Medial

Infra.Market files confidential DRHP with SEBI for Rs 5,000 Cr IPO Building materials unicorn Infra.Market has filed a confidential Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) to raise Rs 5,000 crore through an initial public offering (IPO), according to sources aware of the development. The proposed issue is expected to be a mix of fresh equity shares and offer-for-sale (OFS) by existing investors, in almost equal proportion. The Bengaluru-based firm has taken advantage of SEBI’s confidential filing mechanism, introduced last year, which allows companies to keep sensitive financial and strategic details under wraps until closer to listing. Infra.Market’s move comes just weeks after it raised $83 million in a Series G round led by Silverline Homes, with participation from Tiger Global, Accel, Nexus Ventures, NK Squared, and Evolvence India. Earlier in June, the Bengaluru-based company also secured $150 million in debt funding from Mars Growth Capital. On the financial front, Infra.Market reported a 23% year-on-year jump in revenue to Rs 14,530 crore in FY24, while its profit surged 2.4X to Rs 378 crore. The FY25 numbers are yet to be disclosed. The firm operates in a competitive space with OfBusiness, Zetwerk, and Moglix. OfBusiness clocked Rs 19,296 crore in revenue in FY24, while Zetwerk and Moglix posted Rs 14,436 crore and Rs 4,964 crore, respectively. By opting for the confidential filing route introduced by SEBI last year, Infra.Market joins the likes of PhonePe, Meesho, Shadowfax, PhysicsWallah, Groww, Shiprocket, boAt, and Aequs, which have kept their draft filings under wraps until closer to listing.

Amagi files DRHP for Rs 1,020 Cr fresh issue; Accel, Norwest, PI to sell shares in OFS

EntrackrEntrackr · 4m ago
Amagi files DRHP for Rs 1,020 Cr fresh issue; Accel, Norwest, PI to sell shares in OFS
Medial

Amagi files DRHP for Rs 1,020 Cr fresh issue; Accel, Norwest, PI to sell shares in OFS Amagi plans to raise Rs 1,020 crore through a fresh issue of equity shares, while existing investors will offload up to 3.4 crore shares via an Offer for Sale (OFS). Cloud-based SaaS platform Amagi Media Labs has filed its Draft Red Herring Prospectus (DRHP) with SEBI, marking a key step toward its public market debut. According to the DHRP, Accel, Norwest Venture Partners, Avataar Ventures, PI Opportunities Funds, and others are part of the OFS. Accel, through two entities, Accel India VI and Accel Growth VI will divest over 60 lakhs shares while Norwest Ventures and PI Fund are looking to sell 79 lakhs and 99 lakhs shares respectively in OFS. Avataar’s AVP I Fund will also offload nearly 18 lakhs shares. Trudy Holdings, Prem Gupta, Rahul Garg, Rajesh Ramaiah and other individual shareholders will also participate in the partial exit during the offer for sale. Founded in 2008, Amagi provides cloud-native solutions for broadcast and streaming TV platforms, enabling content owners to launch, distribute and monetize live linear channels globally. The company counts global media brands and FAST (Free Ad-Supported Streaming TV) platforms as clients, with the U.S. being its largest market. The IPO proceeds from the fresh issue will be deployed toward strategic investments in technology and product development, business expansion, and general corporate purposes. The company is also considering a pre-IPO placement of up to Rs 204 crore, which would reduce the size of the fresh issue accordingly. Amagi converted into a public company in May this year in preparation for the listing. The IPO is being managed by a consortium of banks, including Kotak Mahindra Capital, Citigroup, Goldman Sachs, IIFL Capital, and Avendus. As per the DRHP filings, Amagi’s has recorded a 32% year-on-year increase in its revenue to Rs 1,163 crore in FY25 from Rs 879 crore in FY24. With the decent growth, the company has managed to reduce its losses by 72% to Rs 68.7 crore in FY25, compared to Rs 245 crore in FY24. According to startup data intelligence platform TheKredible, SaaS unicorn Amagi has raised approximately $340 million to date from prominent investors such as Premji Invest, Accel, General Atlantic, and others. Indian SaaS companies are making headlines with ambitious IPO plans amid strong sector growth.

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